Backblaze soars after raising FY revenue outlook, Q1 results beat

Backblaze

05/05/2026 13:14

** Shares of cloud storage provider Backblaze BLZE.O jump 42.9% to $6.63 premarket

** Reports Q1 adjusted EPS of 4 cents, beating analyst expectations for a loss of 9 cents, as per data compiled by LSEG

** Q1 revenue of $38.7 mln also tops estimates, driven by a 24% rise in B2 Cloud Storage segment revenue

** Co raises 2026 revenue outlook to $161.5 mln-$163.5 mln from prior range of $156.5 mln-$158.5 mln

** The median 12-month price target of eight analysts on the stock is $8.5, and their average rating is "buy"

** YTD, BLZE stock was down about 0.4%, versus a 7.9% rise for the Nasdaq .IXIC

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))